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#635705 - 11/08/06 04:52 PM Sweeps & AFT
Kari Offline
100 Club
Joined: Sep 2002
Posts: 131
Are sweeps out of a savings account counted as an Automatic Funds transfer within the same institution with regard to Reg D's limitiations on transactions.

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#635706 - 11/08/06 08:02 PM Re: Sweeps & AFT
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,684
Cape Cod
Absolutely. Sweeps into the savings account aren't limited. Sweeps out are subject to the six transfers per month limit.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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